Ehang Holdings Ltd cash flow statement

In fiscal 2025, Ehang Holdings Ltd's operations generated −$25.0m of cash; it spent $20.6m on capital projects, leaving free cash flow of −$45.6m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ehang Holdings Ltd: cash flow statement, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−6	−7	−8	−22	−19	−26	−12	22	−25
Depreciation and amortisation	1	1	1	1	1	1	2	2	3
Stock-based pay	5	3	2	8	19	14	21	38	34
Capital spending	2	1	0	1	2	2	1	5	21
Free cash flow	−7	−7	−8	−23	−21	−28	−14	17	−46
Free cash flow after stock pay	−12	−11	−11	−31	−40	−42	−35	−21	−80
Shares issued	—	—	—	1	40	—	35	97	23

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Ehang Holdings Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Ehang Holdings Ltd.